Nykaa IPO subscribed 1.6x on Day 1 on strong retail investor support

The initial public offering (IPO) of FSN Ecommerce Ventures, operator of online beauty startup Nykaa, was subscribed 1.6 times on Thursday, the first day of the issue. The 26.5-million share offering has got bids for 41 million shares with institutional investor category getting 1.4 times subscribed and retail quota getting 3.5 times subscribed. High networth individual (HNI) portion was subscribed 60 per cent. Nykaa’s IPO closes on Monday.

On Wednesday, the company allotted shares worth Rs 2,396 crore to 174 anchor investors at the upper price band of Rs 1,125 per share. At the top-end, Nykaa is valued at Rs 53,200 crore ($7 billion).

Blackrock, Capital Group, Fidelity, Government of Singapore, SBI Mutual Fund, HDFC MF, Tiger Global and Nomura are some of the investors who got allotment in the anchor category.